https://www.taxtmi.com/news?id=13671 Authorities identified numerous public-issue companies as vanishing companies for ceasing statutory filings and being untraceable, leading to FIRs and prosecutions for non-filing of returns and mis-statements in prospectuses; enforcement invokes Companies Act penal provisions including fraud and residual penalties. Preventive measures include mandatory Director Identification Number with identity and residence verification, professional verification of registered premises on incorporation or address change, Registrar scrutiny of balance sheets and fund utilization, and investor awareness programmes. en-us Tue, 09 Dec 2014 16:10:57 +0530 Tue, 09 Dec 2014 16:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13671 Authorities identified numerous public-issue companies as vanishing companies for ceasing statutory filings and being untraceable, leading to FIRs and prosecutions for non-filing of returns and mis-statements in prospectuses; enforcement invokes Companies Act penal provisions including fraud and residual penalties. Preventive measures include mandatory Director Identification Number with identity and residence verification, professional verification of registered premises on incorporation or address change, Registrar scrutiny of balance sheets and fund utilization, and investor awareness programmes. News - Tue, 09 Dec 2014 16:10:57 +0530 https://www.taxtmi.com/news?id=13671